26 December 2012

Cyfrowy Polsat IR Newsletter
17 – 26 December 2012
Cyfrowy Polsat Newsletter
17 – 26 December 2012
The press about Cyfrowy Polsat
Date
The press about TMT market in Poland
Parkiet: Bulls of the week, or the tempting offers of the Warsaw
Stock Exchange
The layout of lines on the chart of Cyfrowy Polsat share price seems
quite optimistic recently. From the beginning of the year, the price
has oscillated within the growth channel to finally leave it last week.
During the Tuesday's session, the price rose by 6.9% to PLN 17.1,
pushing the line of PLN 16.5. The Wednesday's maximum was
already PLN 17.67.
17.12
Dziennik Gazeta Prawna: Vivendi prepares for the encounter
with Cyfrowy Polsat group
nC + platform, emerged from combined Cyfra+ and ‘n’ platform,
works on the strategy and a joint offer. In the spring offensive it
wants to use the partnership with Orange, Play and Netia.
18.12
Rzeczpospolita: Televisions invest in innovations
Hybrid offer, more online videos and increasingly sophisticated
devices to receive them – that is what the audience is facing
next year. Services with online video will grow the fastest. 3D TV
and watching online video (including HD) on mobile devices will
also become more popular.
Rzeczpospolita: Increasing competition for consumers of music
and movies online
In February, another music service Spotify will be launched in
Poland, however, we should not expect more players on this market
- according to Marcin Pery, head of Ipla and Muzo. Their owner –
Redefine prepares to compete with YouTube on the online video
market.
Ipla is to generate increasingly more revenue besides the
advertising market (now the advertising revenues account for about
90% of the total), but the service is not supposed to be fully paid.
The projects are to combine Ipla packages with Cyfrowy Polsat offer.
Rzeczpospolita: The most efficient television group
In the annual ‘’Rzeczpospolita’’ report summarizing the efficiency of
the three largest television groups on the Polish market (TVP, Polsat
and TVN), Polsat with the results for the year 2011 for the second
consecutive year proved to be the most efficient television group.
The results achieved by the group were generated by less full-time
employees than in TVN or TVP.
Dziennik Gazeta Prawna: Telecoms block market devaluation
The Office of Electronic Communications issued a decision
lowering the wholesale rates paid by the mobile telephony
networks for terminating calls (MTR) from 2013.
Networks can gain even half a year without a drop in revenues if
they choose to litigate rather than adapting the decision in
question.
Cyfrowy Polsat Newsletter
17 – 26 December 2012
The press about Cyfrowy Polsat
Date
The press about TMT market in Poland
Parkiet: We have screened 140 companies and selected the strong
eight
Parkiet presented the companies that in the past year, have been
going against the stream and have rapidly increased profits.
Four criteria were used to identify companies that definitely stand
out in terms of fundamental condition, including sales, profits and
cash flows from operating activities. Cyfrowy Polsat is among the
eight chosen companies. In all cases enviable financial achievements
were rewarded by investors purchasing shares.
19.12
Dziennik Gazeta Prawna: Telecoms looking for money in the
media
Proceeds of mobile telephony networks decrease as the market
is already saturated. Therefore, in the fight for customers
operators bet on the latest smartphones and tablets, as well as
access to the media.
Puls Biznesu: Analysts’ sure bets for the first quarter of 2013
BESI broker analysts selected four companies from the Warsaw
Stock Exchange, which are worth to be included in a shares portfolio
in the first quarter of 2013 – Cyfrowy Polsat is one of them.
- We were looking for companies with strong fundamental upside
potential and linked to a specific event that could drive
outperformance over the next three months – explains the report
entitled "Silver bullets".
Comment on Cyfrowy Polsat:
Despite the adverse environment in the advertising market and low
organic growth in the DTH segment, the company has been able to
post record-high results. We believe the company is well protected
against market headwinds, thanks to revenue from pay-per-view
service and growing ARPU as well as expansion of the TV reach to
Vectra CATV platform. The company generates robust cash flows,
which can speed up de-leveraging and might encourage the
Management Board to pay dividends from 2013.
Dziennik Gazeta Prawna: T-Mobile wants to make money on
selling press online
The largest mobile operator in Poland works on an application
that will enable adding the expenditures on press publishers’
content, games and music purchased online to the bill for
telephone services. Thus preparing to enter the market of pay
content in the Internet.
Republic: Internet users are reluctant to pay for the web
content
Shows the latest report by the British Ofcom.
Poland, although it is one of the world leaders in introducing
LTE high-speed Internet access technology, in many aspects, still
lags behind other European countries.
To be specific, we are ranked the last in terms of the percentage
of people using the Internet via mobile devices. Poland is also on
the last place in terms of revenue from fees for fixed broadband
access per capita. We also have a relatively low 3G network
coverage. However, we are at the forefront when it comes to
the percentage of households using digital television.
Cyfrowy Polsat Newsletter
17 – 26 December 2012
The press about Cyfrowy Polsat
Date
The press about TMT market in Poland
Rzeczpospolita, Ranking of the most valuable Polish brands: Stars
supported the television tycoon
This year, the power of all the Polish media brands weakened, but
the leaders maintained their positions.
This year, Polsat has been promoted to the second position in the
ranking of power, which was supported by the increase in the brand
recognition. The brand of Zygmunt Solorz-Zak’s station profits from
the stronger focus on the programming offer in recent years. It is
already a real competitor for TVN in terms of expensive
entertainment shows, in which the station promotes its own stars.
Unlike the competitors Polsat still develops its portfolio of thematic
channels. It does not always own them, but makes sure to bind
them to its brand.
19.12
Parkiet: Rising competition from small broadcasters
TVN spent this year on losing advertising market share for i.a.
the channels of the competitive Polsat group.
According to Dominik Niszcz, analyst at Raiffeisen Centrobank,
more of a problem than the competition from Polsat is the
dependence of TVN group on its general-entertainment channel
– TVN, in the times when the terrestrial broadcasters move from
analog to digital signal. This change will cause a lot more
channels than ever before in Poland to have nationwide
coverage, which in turn may contribute to the further
diversification of the advertising market in which the major
players are already slowly losing their influence.
Parkiet: TVN: An interesting and challenging year ahead
The television group will reorganize after the change in the
ownership structure and will continue to fight against the
advertising crisis.
Although, after the numerous twists, at the end of the year the
valuation of TVN shares returned to the level from the first days
of January, the investors face a cold shower - analysts believe.
The company faces an interesting but difficult year 2013. Both
because of the internal situation and the overall condition of the
television market.
20.12
Dziennik Gazeta Prawna: Telecoms: Time for the market of pay
content
Not only T-Mobile, but also Play may soon sell newspapers in
the Internet.
Piano Media, the Slovak platform selling the access to the
content of publishers, leads talks on cooperation with Play.
Cyfrowy Polsat Newsletter
The press about Cyfrowy Polsat
17 – 26 December 2012
Date
The press about TMT market in Poland
21.12
Puls Biznesu: 2013 will be the year of LTE and „no limits”
Telecoms have a big growth potential – claims the operator of
Play network. Against the widespread pessimism.
-I expect that all operators launch LTE next year. This should
increase the volume of data transfer - says Jorgen Bang-Jensen,
President of P4.
- Next year I expect the expansion of "no limits" formula - he
adds.
Cyfrowy Polsat Newsletter
17 – 26 December 2012
Cyfrowy Polsat shares
Maximum
price
(PLN)
Minimum
price
(PLN)
Closing
price
(PLN)
Change
(%)
17-12-2012
17.00
16.70
16.85
1.26%
1 009
18-12-2012
16.86
16.52
16.80
-0.30%
9 113
19-12-2012
16.86
16.71
16.80
0.00%
4 583
20-12-2012
16.89
16.63
16.80
0.00%
3 407
21-12-2012
16.80
16.42
16.46
-2.02%
6 585
Date
Trade
value
(PLN ths.)
Investors' calendar
26 February – 12 March 2013
Closed period prior to the publication of 2012 results
12 March 2013
Publication of annual report and consolidated annual report for 2012